List of top Economics Questions on Tax asked in GATE XH-C1

Distinguish between Direct tax and Indirect tax with suitable examples.
"Under the 'Production Linked Incentive' scheme, the Government of India offers various benefits like reduced importexport duties, incentives to investors, taxrebates etc." In the light of the above statement, identify and explain the Budget objective and its likely consequences.
Consider a competitive market where the demand and supply functions are given by \( q^d = 12 - 2P \) and \( q^s = 4P \), respectively. The tax rate per unit of output that maximizes the tax yield (revenue) is _________ (in integer).
Goods and Services Tax (GST) is
For an open economy, the ‘twin deficits’ can be expressed by: \[ \text{[where } S = \text{Savings; } I = \text{Gross Private Investment; } G = \text{Government Expenditures; } TR = \text{Transfer Payments; } TX = \text{Taxes; } X = \text{Exports; } M = \text{Imports and NFIA = Net Factor Income from Abroad]} \]